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19/05/2017 - 12:45hs

Brazilian executives in business talks in Qatar

The delegates on a business trip organized by the Brazilian Ministry of Agriculture to the Gulf had a meeting at the Qatar Chamber of Commerce in Doha and sat down with local businesspersons.

Dubai – The executives on a business trip organized by the Brazilian Ministry of Agriculture to the Gulf spent last Thursday (18) in Doha, Qatar, where they met with businesspersons and personnel from local banks at the Qatar Chamber of Commerce. Arab Brazilian Chamber of Commerce CEO Michel Alaby, who was in attendance, said the Qataris wanted information on the rules regarding foreign investment in Brazil.

Press Release

Michel Alaby (C) exchanges presents with Qatar Chamber vice president

The Brazilian delegation is composed of Brazilian agribusiness industry executives seeking foreign investors for their projects. Besides Alaby and the businesspersons, the seminar held at the Qatar Chamber was attended by the ambassador of Brazil in Doha, Roberto Abdalla, and by the general coordinator for Promotion of Foreign Investments and Cooperation of the Brazilian Ministry of Agriculture, Evaldo da Silva Júnior.

The Qatari executives are in the foodstuffs, logistics, and communication industries. According to Alaby, they inquired about how foreign capital is treated in Brazil, taxes, the right to property, etc. The CEO explained that businesses can be 100% foreign-owned in the country, that local partners are not a requirement, and that incentives are available in some parts of the country, such as the North and Northeast.

“I pledged to provide the Qatar Chamber with a summary of the legislation and procedures for setting up a foreign-owned company,” Alaby said.

Also in discussion was a Qatari business trip to Brazil, which could happen either late this year or in the first quarter of 2018.

After the seminar, the Brazilians and Qataris sat down for business matchmaking sessions. Alaby said the Qataris were primarily interested in sugar, meats, and cashew and Brazil nuts.

Earlier in the day, the Brazilian executives convened with Abdalla at the embassy of Brazil in Doha. The ambassador said more business trips to Qatar must take place so that Brazil-Qatar trade can increase.

Last year, Brazil exported USD 378 million worth of goods to Qatar, 6% from 2015. The top-selling goods were automobiles, calcinated alumina, poultry, shotgun ammunition, and copper wire. The data are from the Brazilian Ministry of Industry, Foreign Trade and Services.

Conversely, Qatar sold to Brazil in 2016 the equivalent of USD 532 million, down 44% from the year before. The bulk of sales consisted of urea, liquefied natural gas, kerosene, lubricant oils, and plastic.

*Translated by Gabriel Pomerancblum

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